CEX.IO News

Market spoofing attempts neutralized

, April 17, 2019

We’ve recently neutralized market spoofing attempts on CEX.IO. An internal investigation has been initiated in accordance with corporate procedures. A self-regulated crypto exchange, CEX.IO Ltd is a UK-based company operating in full accordance with British law.

Over its five-year history, the CEX.IO cryptocurrency exchange has proved its high standards of security for customer funds, efficient anti-fraud procedures, and compliance with regulatory frameworks. In addition to PCI DSS certification and MSB status with FinCEN, in December 2018, CEX.IO underwent an independent BSA/AML audit, including the evaluation of internal policies and procedures. In February 2019, CEX.IO reported a 30% decrease in fraud as a result of its upgraded KYC procedure.

What is market spoofing?

Market spoofing is a manipulative strategy when a fraudulent trader places fake limit orders to confuse other traders, who build their price perception in response. Later, the initial order is removed by the fraudulent trader before it’s executed. As a result, other traders lose their perceived profit.

Related

CEX.IO News

CEX.IO will take part in the Synopsis 2021 online conference

Dmitry Volkov, a Chief Technology Officer (CTO) of CEX.IO, will speak at the second international conference Synopsis 2021: Hot Trends, which will take place on June 1-5.

May 31, 2021 | 1 min read
CEX.IO News

Media about us. March 2021

March was keeping us hanging on the edge of our seats — bulls or bears, sideways, or detour? Read our experts’ opinions shared in media.

Apr 14, 2021 | 14 min read
CEX.IO News

March 2024 Media Report

CEX.IO swung springward with generative shoots of thought leadership, added another accolade to the mantle, and was shortlisted for an award, dangling the promise of future glory.

Apr 02, 2024 | 8 min read